European Venture Capital Journal articles from April 2006

European Venture Capital Journal archives from April 2006

PE: too big to ignore.(private equity firms)(Editorial)
April 1, 2006... In March Ernst a Young announced Simon Perry as its first global private equity leader, something the firm described as "a new role demonstrating Ernst a Young's commitment to the industry". While Perry will obviously act as the external face...

Care services: sustaining value: private equity houses continue to make the most of opportunities in the care services sector, in particular outsourced services for the elderly, disabled and those with special needs being subsidised by the public sector via contract agreements. Valuations appear to be soaring, but how long will private equity houses be able to extract value from these deals?(NEWS ANALYSIS)
April 1, 2006... Private equity looks like it is gearing up for another bumper year in healthcare, with around 15bn [pounds sterling] of private equity investment circling healthcare assets, according to Deloitte. Key healthcare drivers in 2006 include property...

Escaping the glare: the comments period over the SEC's proposals to relax its deregistration roles for foreign companies has recently closed. With more and more companies turning their backs on the US markets, Tom Allchorne looks at what the SEC wants to do, and how Europeans have greeted this.(NEWS ANALYSIS)
April 1, 2006... The stringent reporting requirements of the Sarbanes-Oxley Act has resulted in a large number of non-US companies delisting from the US public markets and deregistering from the Securities and Exchange Commission (SEC). The current reporting...

Company law reform may threaten NEDs.(NEWS ANALYSIS)
April 1, 2006... Draft new rules on directors' duties could make it difficult for non-executive directors (NEDs) to work with more than one company at the same time. Under the proposed new rules, which are currently being debated by Parliament, a director would...

A new face in Central European mezzanine.(NEWS)(Syntaxis Capital formed)(Brief article)
April 1, 2006... Syntaxis Capital is the latest entrant taking advantage of opportunities in Central Europe. The new firm has been formed by Ben Edwards Przemek Szczepanski and Thomas Spring and will arrange and provide mezzanine capital to medium-sized...

Inefficient debt pricing helping PE sponsors.(NEWS)
April 1, 2006... Rating agency Standard & Poor's (S&P) continues to wring its hands over the loan market, with its latest worry concerning the lax way in which loans are priced in Europe, which is encouraging private equity firms to maximise leverage. Paul...

Granville name change.(NEWS)(Granville Baird Capital Partners)(Baird Capital Partners Europe)(Brief article)
April 1, 2006... Granville Baird Capital Partners (GBCP) is changing its name to Baird Capital Partners Europe in the UK. This is the latest name change for the 30 plus year old firm, which has been the European private equity arm of Robert W Baird & Co since...

Monument opens in London.(NEWS)(Monument Group (UK) Ltd.)(Brief article)
April 1, 2006... Monument Group, an independent private equity placement agent, has appointed Martin Anthonsen as director of its newly opened London affiliate, Monument Group (UK) Ltd. With the new office, Monument will further enhance its ability to represent...

PE turns attention to corporates.(NEWS)(private equity looks to acquire)
April 1, 2006... The stock market could provide easy pickings for private equity, according to debt market research published by Deloitte. Listed companies are at risk from hostile takeover approaches from private equity firms because many of them are...

Private equity eyes healthcare real estate.(NEWS)(Brief article)
April 1, 2006... Private equity is gearing up for another bumper year in healthcare, according to Deloitte, with around 15bn [pounds sterling] of private equity investment circling healthcare assets. Key healthcare drivers in 2006 include property fund interest...

3i backs Israeli fund.(investments)(Brief article)
April 1, 2006... 3i has invested US$20m in Giza Venture Capital's fourth fund. This investment extends 3i's global venture capital activities to Israel, where it will invest primarily alongside Giza, in Israeli technology companies. 3i typically invests...

Partners Group lists on SWX.(NEWS)(SWX Swiss Exchange)(Brief article)
April 1, 2006... Partners Group has listed on the main board of the SWX Swiss Exchange. The offer price was fixed at CHF63 per share, in the upper half of the price range of CHF56 (35.5 [euro]) to CHF67. The bank syndicate, consisting of Credit Suisse,...

TVM changes name.(NEWS)
April 1, 2006... TVM is changing its name to TVM Capital, effective immediately. Founded in 1983 as Techno Venture Management, the name change to TVM Capital enables the firm to marry its brand heritage with its current position as a venture capital investor in...

UBS reduces PE exposure.(private equity)(Brief article)
April 1, 2006... UBS reduced the size of its private equity portfolio by more than 40% in 2005. In Q1 2005, UBS' private equity investments, formerly within the investment bank division, were moved to the industrial holdings segment. This move represents a...

UK budget: no surprises for PE.(NEWS)(private equity)
April 1, 2006... Private equity investors were hoping for clarification on the many tax issues facing the private equity industry, but unfortunately UK Chancellor of the Exchequer Gordon Brown included little comment on the subject in his Budget presentation...

UK budget reduces VCT tax breaks.(NEWS)
April 1, 2006... The UK Chancellor's decision to reduce the tax relief on Venture Capital Trusts (VCTs) by 10% from 40% to 30% from April may prompt a last minute rush to invest in VCTs and benefit from the current tax relief. The change in the VCT tax rules...

EVPA Sept conference.(SEED THROUGH EARLY STAGE)
April 1, 2006... The European Venture Philanthropy Association (EVCA), which has now been in operation for 15 months, has committed to hold its 2nd annual conference in Paris this coming September. Last year's event attracted 135 delegates from 14 countries....

Bumper City of London bonuses to swell PE coffers?(SEED THROUGH EARLY STAGE)(private equity)(Brief article)
April 1, 2006... Hotbed, the private investor network, is predicting that this year's bumper crop of bonuses made in the City of London will considerably swell the investments in alternative assets such as private equity and commercial property, with REITs...

SCIpharm 2006.(SEED THROUGH EARLY STAGE)
April 1, 2006... SCIpharm 2006 conference in Edinburgh on May 14 to 17 is hosting a biotechnology showcase event on May 16 assisted by Scottish Enterprise. "A big part of Scottish Enterprise's role is to bridge the gap between publicly-funded early stage...

Venture Index secures sponsor.(SEED THROUGH EARLY STAGE)
April 1, 2006... The Venture Index, which was launched in May last year to track private equity investments in the sub 1m [pounds sterling] space on mainland UK, has secured Kingston Smith, the accountancy firm, as its sponsor. Venture Index is updated...

BBAA news.(SEED THROUGH EARLY STAGE)(British Business Angels Association)(Brief article)
April 1, 2006... The British Business Angels Association (BBAA) will hold its 2nd annual conference on June 12 & 13 at Royal Bank of Scotland, 280 Bishopsgate, London and is free to members. At the end of the first evening of this event, the BBAA will host its...

1st ECF out of the gates.(SEED THROUGH EARLY STAGE)(Enterprise Capital Fund)(Brief article)
April 1, 2006... IQ Capital is the first fund manager to be awarded funds under the UK government-sponsored Enterprise Capital Fund (ECF) initiative. It has been awarded 16.7m [pounds sterling], having been able to raise 8.3m [pounds sterling] from its members...

Cambridge Consultants back in venture game.(SEED THROUGH EARLY STAGE)(new venture fund)(Brief article)
April 1, 2006... Cambridge Consultants, a leading European technology-based design and development company, is to reactivate its spinout business with the creation of a new venture fund. Previous successes for Cambridge Consultants have seen it spinout start-up...

HgCapital smashes target; mid-market specialist HgCapital overshot its target for its latest fund by 200m [pounds sterling]. Tom Allchorne examines the fund and looks at how it was raised in an already crowded marketplace.(FUNDS)
April 1, 2006... HgCapital has closed its second fund since spinning out of Merrill Lynch in 2000, exceeding its 750m [pounds sterling] target by raising 950m [pounds sterling], the maximum size agreed with investors. The fund took over four months to close,...

Altor breaks 1bn [euro] barrier for new fund.(fund closed)(Altor Equity Partners)(Brief article)
April 1, 2006... Altor Equity Partners, the Nordic buyout house, has closed its second fund on 1.15bn [euro] ; almost double the amount of its first fund. The new fund has over 50 investors, including Allianz Private Equity Partners, AlpInvest, Goldman...

Russian fund to launch on AIM.(FUNDS)(Aurora Russia Limited)(Alternative Investment Market)(Brief article)
April 1, 2006... Aurora Russia Limited, an investment vehicle established to make equity investments in small and medium-sized private Russian companies, has listed on London Stock Exchange's Alternative Investment Market (AIM). The fund has raised 75m [pounds...

Quartilium FoFs final close.(Finama Private Equity)(fund-of-funds)(Brief article)
April 1, 2006... Quartilium, Finama Private Equity's fund-of-funds team, has reached a final close of QUARTILIUM II, its generalist fund-of-funds, on 284m [euro], exceeding its original target of 250m [euro]. Quartilium now manages over 600m [euro] of assets,...

SVG raises second CFO.(SVG Capital)(collateralised fund obligation)(Brief article)
April 1, 2006... SVG Capital has raised 500m [euro] through a collateralised fund obligation (CFO) of private equity funds. SVG Diamond II will focus on buyouts, and at closing had agreements in place to buy a portfolio of 14 funds. The CFO is made up of 325m...

European Capital raises 400m [euro].(revolving credit facility)(Brief article)
April 1, 2006... European Capital has raised a 400m [euro] multi-currency revolving credit facility from affiliates of Wachovia Bank, NA and Harris Nesbitt. Part of the money, which is denominated in euros, sterling and US dollars, will be used to repay 111m...

First close for Alfa.(fund closure)(Alfa Capital Partners)(Brief article)
April 1, 2006... Alfa Capital Partners (ACP) has reached a US$105m first close on Alfa Private Equity Partners. Investors include international financial institutions and family offices. The fund has a target of US$250m. The fund will provide equity capital...

Rutland to raise 250m [pounds sterling].(FUNDS)(Brief article)
April 1, 2006... Turnaround specialist Rutland is seeking to raise 250m [pounds sterling] for its second fund, Rutland Fund II. Rutland Trust has agreed to commit 100m [pounds sterling] to the new fund. The 210m [pounds sterling] Rutland Fund is drawn down...

Phoenix raises 375m [pounds sterling].(fund closure)(Phoenix Equity Partners)(Brief article)
April 1, 2006... Mid-market private equity investor Phoenix Equity Partners has closed its new fund, Phoenix Equity Partners 2006 Fund in three months. The fund raising was formally launched in December 2005 and completed on March 1, 2006. The fund size was...

Vertex raises fund III.(FUNDS)(Vertex Venture Capital)(Brief article)
April 1, 2006... Vertex Venture Capital is raising its third fund, Vertex III Fund. The fund has already started investing and recently secured a commitment from Siemens Venture Capital. Other investors include major Asian, Israeli, American and European...

BoS backs Mono.(management buyout)(Bank of Scotland Corporate)(Mono Global)(Brief article)
April 1, 2006... Bank of Scotland Corporate has backed the MBO of Mono Global, a UK telecommunications support business, from 3i. The deal was funded via Bank of Scotland's integrated finance division with a 10m [pounds sterling] debt and equity package, which...

Carlyle in property JV.(joint ventures)(joint ventures of Carlyle Group and Skelton Group )(Brief article)
April 1, 2006... The Carlyle Group and property developer Skelton Group have formed a 750m [pounds sterling] joint venture vehicle called Carlyle Skelton Development Group (CSD) to acquire and develop property throughout the UK. Carlyle Skelton Development...

Amanda Capital turns East.(private equity funds of Amanda Capital)(Brief article)
April 1, 2006... Amanda Capital, a publicly-listed private equity fund-of-funds manager headquartered in Finland, has revealed plans to build a fund targeting funds in Russia and Eastern Europe. Amanda III Eastern Private Equity is aiming to raise 100m [euro],...

Nordic Capital raises 1.9bn [euro].(Nordic Capital closes its sixth fund)(Brief article)
April 1, 2006... Nordic Capital has closed its sixth fund on 1.9bn [euro] following six months of fund raising. This is an increase on its previous fund's total of 1.5bn [euro], which closed in 2003. This latest fund, Nordic Capital VI, will not deviate from...

Apax new fund launch.(Apax Partners S.A.)(Brief article)
April 1, 2006... Amboise Investissement, a French investment vehicle from Apax, is to launch on Euronext Paris before the end of March. Amboise, which has an indicative price range of between 11.20 [euro] and 12.20 [euro], will back unlisted companies, ranging...

Global Finance raises 197m [euro].(Brief article)
April 1, 2006... Global Finance, a Southeastern European private equity firm, has reached a first close on South Eastern Europe Fund (SEEF) on 197m [euro]. The fund, like its predecessors, will provide expansion capital and focus on taking control of companies...

Synergo closes fund.(Synergo SGR closes its maiden fund)(Brief article)
April 1, 2006... Synergo SGR, an Italian fund manager set up last year by Italian VC veteran Gianfilippo Cuneo and Benedetto de Benedetti, has held a final close on its maiden fund, Sinergia con Imprenditori. Two junior partners Flavio Abbondati, who joined...

SVG funds Permira IV.(SVG Capital Plc. )
April 1, 2006... Permira has raised almost a third of its next fund Permira IV from SVG Capital, which has committed 2.8bn [euro] to the fund that is looking to raise 8.5bn [euro]. The Permira funds represent 75% of SVG Capital's portfolio. It is expected...

German Mittelstand fund launch.(Buchanan Capital Group launches new fund for family owned businesses)(Brief article)
April 1, 2006... German mid-market finance house Buchanan Capital Group has launched a new fund aimed at investing in family-owned businesses in German speaking companies in Europe. The fund, called Buchanan Unternehmer Fonds, will be managed by Buchanan...

TA Assoc. closes funds.(TA Associates)(Brief article)
April 1, 2006... US buyout house TA Associates has raised two new funds: the US$3.5bn TA X, a private equity fund, and TA Subordinated Debt Fund II (TA SDF II), a US$777.5m mezzanine fund. TA's main geographical focus will continue to be on the US, but it will...

Letts Filofax goes to Phoenix; when Dunedin Capital Partners sealed a deal to acquire the Letts diary business in 2000, the firm already had its eyes on the Filofax brand, recognising that consolidating the Letts and Filofax brands would bring attractive synergies. The prediction was correct and Dunedin is now reaping the benefits of a lucrative exit to Phoenix Equity Partners, which hopes to extract further value from the business.(Phoenix Equity Partners )(Letts Filofax)(Dunedin Capital Partners)
April 1, 2006... Dunedin Capital Partners has sold the supplier of personal organisers and diaries in a secondary buyout to Phoenix Equity Partners for 45m [pounds sterling]. Dunedin Enterprise Investment Trust plc, the investment trust managed by Dunedin, will...

Arena sold in secondary buyout.(BS Private Equity acquires Arena Group)(Brief article)
April 1, 2006... BS Private Equity has acquired the Arena Group, a sports water-wear manufacturer, from Investitori Associati in a secondary buyout transaction. BS Private Equity has invested 17m [euro] in the deal. The business has an approximate enterprise...

MGPA sells interest in Banimmo.(Macquarie Global Property Advisors )(Banimmo Real Estate )(Brief article)
April 1, 2006... Macquarie Global Property Advisors (MGPA) is selling its 88% interest in Banimmo Real Estate (Banimmo) to Affine Group (Affine) and Banimmo management. Global Fund I acquired its interest in Banimmo with the Banimmo management team in October...

Somerfield checks out of Kwik Save.(Somerfield sold its discount food chain Kwik Save)(Brief article)
April 1, 2006... Somerfield, the UK supermarket group bought by Apax in December 2005, has sold its discount food chain Kwik Save. The sell-off sees 171 outlets sold to a new company set up specifically to run the stores called Back to the Future, which is...

Legrand to float.(EXITS)
April 1, 2006... Private equity-backed French electrical goods company Legrand is to IPO on the French Stock Exchange. Legrand filed its Document de Base with the Autorite des Marches Financiers (AMF) on February 21, 2006. The proposed IPO on Euronext Paris is...

Electra sells Gardiner.(Electra Partners Europe)(Gardiner Groupe Europe)(Brief article)
April 1, 2006... Electra Partners Europe has sold Gardiner Groupe Europe, a French-headquartered distributor of electronic security equipment, to Honeywell. The business was the subject of a management buyout led by Electra in June 2003. Gardiner Group formed...

Barclays sells RSG.(Barclays Private Equity)(Recruitment Solutions Group)(Brief article)
April 1, 2006... Barclays Private Equity has sold UK recruitment consultancy Recruitment Solutions Group] (RSG) to Hays for 18.5m [pounds sterling]. Return] details have not been disclosed. Barclays invested 9m [pounds sterling] in RSG in April 2001, taking a...

AGI completes dual IPO.(EXITS)
April 1, 2006... AGI Therapeutics, an Irish speciality pharmaceutical company, has held a dual float on the London Stock Exchange's Alternative Investment Market (AIM) and the IEX market of the Irish Stock Exchange, raising 42.5m [euro]. With a share price of...

3i sells Epcon stake.(3i Group PLC sells Epcon Offshore to M-I Swaco)(Brief article)
April 1, 2006... 3i has realised its investment in Epcon Offshore, a Norwegian-headquartered provider of produced water treatment systems for the oil & gas industry, to M-I Swaco, the US supplier of drilling fluid. No return details have been disclosed for...

APAX sells ALAIN AFFLELOU stake.(Apax Partners Ltd sells Alain Afflelou to Bridgepoint Capital)(Brief article)
April 1, 2006... Apax is to sell its holding in ALAIN AFFLELOU, the French optical retail chain, following a definitive agreement reached with buyer Bridgepoint, in a 500m [euro] deal. Apax, along with the founder of the company Alain Afflelou, will sell a...

3i more than doubles return on UTT sale.(3i Group PLC)(United Transport Tankcontainers Holding)(Inter bulk Investments)(Brief article)
April 1, 2006... 3i has sold its stake in United Transport Tankcontainers Holding (UTT), a Dutch tank container operator in a 67m [euro] reverse takeover by Inter-bulk Investments. The sale generated a 2.6x return for 3i, and a 40% IRR, on its three-year...

August makes 6x on Durrants secondary.(August Equity sells Discovery Group to Exponent Private Equity)(Brief article)
April 1, 2006... August Equity has made its first exit since changing its name from Kleinwort Capital by selling Discovery Group to Exponent Private Equity in an 82m [pounds sterling] secondary buyout, generating a 6x return. Discovery, which trades under the...

Stirling Square backs Whittan Storage Systems secondary.(Stirling Square Capital Partners )(Permira)(Brief article)
April 1, 2006... Stirling Square Capital Partners has backed the secondary buyout of Whittan Storage Systems from Permira. Total funding for the transaction is approximately 90m [pounds sterling]. Whittan Investments Group, an investment vehicle backed by...

Partial exit for Prize Food consortium.(Buckingham Foods sold to Duke Street Capital)(Brief article)
April 1, 2006... Prize Food, a Montagu Private Equity, 3i and Electra Partners portfolio company, has sold sandwich maker Buckingham Foods to Duke Street Capital for an undisclosed sum. Prize Foods was the subject of a 57m [pounds sterling] management in...

Innova sells AMG.net.(Innova Capital)(Bull Group)(Brief article)
April 1, 2006... Central and Eastern Europe private equity firm Innova Capital has sold AMG.net, a Polish IT consultancy business, for an undisclosed sum to Bull Group, a French-headquartered IT company. The sale marks the end of Innova's six-year investment...

Nordic Capital sells Guide.(Brief article)
April 1, 2006... Nordic Capital has sold Guide, a supplier of high end IT services, to EDB, a leading IT group in the Nordic region. Financial details of the transaction were not disclosed. Nordic Capital acquired Framfab's two subsidiaries, IT Consulting...

Barclays PE buys TUJA.(Barclays Private Equity)(TUJA Holding GmbH)(Odewald & Compagnie)(Brief article)
April 1, 2006... TUJA Holding GmbH is the latest company to change hands between private equity firms, with Germany's Odewald & Compagnie selling its interest to Barclays Private Equity European Fund II for an undisclosed sum. A temporary employment...

PONTIS and Capexit realise UC4.(Pontis Venture Partners )(UC4 Software)(Carlyle Group)(Brief article)
April 1, 2006... Austrian firms PONTIS Venture Partners and Capexit have sold their stakes in UC4 Software to Carlyle for an undisclosed sum. UC4, based in Wolfsgraben, Austria, specialises in enterprise job scheduling and workload automation software. It was...

Interregnum to sell portfolio.(InterregnumLC sells portfolio to Greenpark Capital)(Brief article)
April 1, 2006... Interregnum, the UK technology merchant bank, is to sell a portfolio of eight assets to Greenpark Capital for 5m [pounds sterling] in cash. The deal also involves Interregnum having a share in any profits made from the future sale of the...

DKW sells Kleinwort Capital interest.(Dresdner Kleinwort Wasserstein)(F&C Private Equity Trust plc.)(Brief article)
April 1, 2006... Dresdner Kleinwort Wasserstein has sold its position in Kleinwort Capital Partners IV for 60m [pounds sterling] to Partners Group and F&C Private Equity Trust plc. Partners Group acquired 75% of this commitment and F&C Private Equity Trust...

European IPOS raise more than 50bn [euro].(EXITS)
April 1, 2006... European public markets continue to surge from strength to strength following a 39% increase in the number of new floats in 2005 compared to 2004. PricewaterhouseCoopers' IPO Watch Europe--Review of the Year 2005 found almost double the...

Imperial sells ParOS.(Imperial Innovations)(Parametric Optimization Solutions)(Oak Prospects)(Brief article)
April 1, 2006... Imperial Innovations, the commercialisation company of Imperial College London, has sold Parametric Optimization Solutions (ParOS) to Oak Prospects for 5.4m [pounds sterling]. ParOS is now floating on the London Stock Exchange's Alternative...

Apax and Permira complete Inmarsat exit.(EXITS)
April 1, 2006... Apax and Permira have sold their remaining shares in UK-based satellite company Inmarsat, less than a year after floating it on the London Stock Exchange. In total 74 million shares were placed by the two private equity firms along with fellow...

Dunedin sells Celtic Inns.(Dunedin Capital Partners)(Celtic Inns Holdings Ltd)(Wolverhampton & Dudley Breweries, plc)(Brief article)
April 1, 2006... Dunedin Capital Partners has made a second realisation within eight days of its last with the sale of Celtic Inns Holdings Ltd, the Southampton-based pubs operator, to The Wolverhampton & Dudley Breweries, plc for 43.6m [pounds sterling]. ...

CapMan and Sitra exit.(Mehilainen Oyj)(H-Careholding AB)(Brief article)
April 1, 2006... CapMan and Sitra have sold their stakes in Mehilainen Oyj, a 97-year old Finnish healthcare service provider, to H-Careholding AB, a Swedish holding company, for 152m [euro]. The sale represents an exit for two of CapMan's funds, Finnventure V...

Bridgepoint sells Hydrex.(Bridgepoint Capital)(Hydrex Group)(Quilvest)(Shoaibi Group)(Brief article)
April 1, 2006... Bridgepoint has sold Hydrex Group, a specialist supplier of mobile operated equipment and associated support services for the UK rail and materials handling sector, to Quilvest and Shoaibi Group in a transaction totalling l06m [pounds...

ECM sells Sport Group to IK.(EXITS)(Industri Kapital)(Equity Capital Management)(Brief article)
April 1, 2006... Industri Kapital is acquiring Sport Group from Equity Capital Management (ECM) in a secondary buyout transaction. Financial details of the transaction are not disclosed. ECM invested an undisclosed amount in the original buyout in 2003. ...

Warburg makes 9x return on Zentiva.(Warburg Pincus sells out complete stake)(Brief article)
April 1, 2006... Warburg Pincus has completed its exit from Czech pharma company Zentiva by selling its remaining shares to Sanofi-Aventis for approximately 430.3m [euro]. The sale of its remaining 19.6% stake means overall Warburg made a 9x return, generating...

Greenpark acquires Inflexion portfolio.(Greenpark Capital)(Inflexion Private Equity)(Brief article)
April 1, 2006... Greenpark Capital has acquired a portfolio of quoted shares and limited partnership interests from Inflexion for 32.1m [pounds sterling]. The portfolio will continue to be managed by Inflexion Managers Limited. As part of the transaction...

Gant in 241m [euro] IPO.(EXITS)
April 1, 2006... L Capital and 3i are celebrating the flotation of portfolio company Gant, a Swedish business that develops and markets an international lifestyle brand. The company has successfully achieved a 241m [euro] flotation on the Stockholm Stock...

Telenor Venture sells OilCamp.(EXITS)(HitecVision Private Equity)(Brief article)
April 1, 2006... Norwegian oil and gas firm HitecVision Private Equity has acquired OilCamp, a communications provider for the oil industry, from Telenor Venture, the venture arm of the Telenor Group. HitecVision has invested through Petroleum Networks Holding,...

3i sells Groupe Vendome.(EXITS)(Johnson and Johnson Consumer France SAS)(Brief article)
April 1, 2006... 3i is to sell its interest in Groupe Vendome to Johnson & Johnson Consumer France SAS for an undisclosed sum. The acquisition is subject to regulatory approval and is expected to complete in Q2 2006. 3i backed the management buyout of the...

3i sells Allen & Heath to Close Bros.(EXITS)(Close Brothers Growth Capital)(Brief article)
April 1, 2006... 3i has sold Allen & Heath A&H, a UK designer of professional sound mixing equipment, to Close Brothers Growth Capital in a 9m [pounds sterling] secondary buyout. 3i backed the original MBO from Harman International Industries in 2001 in a 9m...

LBO syndications arranged March.(leveraged buyouts)
April 1, 2006... COMPANIES IN THIS SECTION AUDATEX AVR COM HEM EWT FINDUS INAER LA SIRENA LUCAS BOLS MTU MUTIKABEL NYBRON SELENIA Aster City Cable TARGET NATION: POLAND DATE ANNOUNCED:...

Refinancing.(BUYOUTS)
April 1, 2006... COMPANIES IN THIS SECTION AA TARGET NATION: UK DATE ANNOUNCED: 10/03/06 SPONSORS: CYC CAPITAL PARTNERS & PERMIRA MANDATED ARRANGER: BARCLAYS FINANCING: AS BELOW The pricing on the subordinated debt of the...

Private equity-backed takeovers subject to EU competition law.(BUYOUTS)(European Union)
April 1, 2006... COMPANIES IN THIS SECTION AVR CENTER PARCS HEINZ EUROPEAN SEAFOOD SLEC SOLA AVR PRIVATE EQUITY BACKER: CVC CAPITAL PARTN ERS & KKR BUSINESS DESCRIPTION: WASTE MANAGEMENT COMPANY DEAL VALUE: 1.4BN...

3i move.(PEOPLE)
April 1, 2006... 3i has moved offices and is now to be found at 16 Palace Street, London, SW1E 5JD. All telephone numbers remain the same.

NIBCapital name change.(PEOPLE)
April 1, 2006... NIBCapital, the Dutch merchant bank, has changed its name to NIBC following its takeover in December last year by a consortium of investors led by JC Flowers & Co.

Cipio promotes.(Cipio Partners)(Roland Dennert)(Brief article)
April 1, 2006... Secondary direct investor Cipio Partners has promoted Roland Dennert to partner. Prior to Cipio, Dennett was a director at Swiss venture firm, Atila Ventures, where he was responsible for its software, microelectronics and data communications...

Monument appts.(Monument Group Ltd.)(Martin Anthonsen)(Brief article)
April 1, 2006... Monument Group, the US-headquartered private equity placement agent, has opened an office in London and installed Martin Anthonsen as director. Anthonsen was formerly a senior member of the investment teams at Nordic Alternative Investment...

LDC recruits.(Tim Newman)(Brief article)
April 1, 2006... LDC has appointed Tim Newman as business development director. Newman has been at Lloyds TSB for 30 years, spending the last 12 in the corporate banking team in the Midlands. He will be responsible for identifying potential investment...